What if every company with 500+ employees invested on building societies/flats near the office for employees?

Imagine the retentionl/leverage during negotiations when your employees are all renting/buying flats within 100m of office.

Imagine the local boost in economy and reduction in pollution.

Surely there would be rules needed to be set up in case an employee leaves a company, like vacating the flat if rented or selling back to the company at market price etc if bought, but overall this might help fox the current workplace issues.

Is it tried anywhere before? I have heard that big tech companies like google/fb does this in other countries